TC Res. No. 2013-39 Augustana Care Funding from Housing FundTOWN OF AVON, COLORADO
RESOLUTION NO. 13 —39
SERIES 2013
A RESOLUTION COMMITTING AN ADDITIONAL $150,000 FROM THE TOWN OF AVON AFFORDABLE
HOUSING FUND BALANCE, SUBJECT TO ANNUAL APPROPRIATION, TO AUGUSTANA CARE, A
NONPROFIT 501(c)(3), FOR THE CASTLE PEAK SENIOR CARE COMMUNITY
WHEREAS, the Eagle County Commissioners in partnership with representatives from Augustana Care, a
nonprofit 501(c) (3), submitted an application for funding to the Town of Avon, which is attached to this
Resolution No. 13 -39 and is titled Castle Peak Senior Care Community Capital Campaign Proposal Town
of Avon November 12, 2013 (Proposal); and
WHEREAS, the Proposal provides a comprehensive statement of history of the Castle Peak Senior Care
Community project and goal to construct Phase 1 of the project, which is a 64 -unit skilled nursing and
assisted living facility in Eagle, Colorado; and
WHEREAS, the Proposal details need for the facility, benefits, construction costs and development
budget; and
WHEREAS, the Proposal states that no operational monies will be needed, but a construction budget
shortfall of $4,400,000 is identified in the Proposal, of which the Castle Peak Senior Care Community
Capital Campaign Committee has stated to the Town Council at least 50% or $2,200,000 must be raised
by contribution or commitment of contribution for the Phase 1 of the project to "break ground "; and
WHEREAS, the Castle Peak Senior Care Community Capital Campaign Committee in the Proposal
requests a contribution of $200,000 from the Town of Avon to assist with the construction shortfall; and
WHEREAS, the Town of Avon finds the benefit in joining other financial supporters, both private and
public, in helping raise the $2,200,000 needed to break ground; and
WHEREAS, the Town of Avon has monies available in the Affordable Housing Fund that can be
contributed for the project; and
WHEREAS, the Town of Avon in its approved 2014 Affordable Housing Fund Budget appropriated
$50,000 in support of the project, with funds being available for payment to the Augustana Care in
2014; and
WHEREAS, the Town of Avon has been asked to contribute the balance of the Castle Peak Senior Care
Community Capital Campaign Committee's request an amount equal to $150,000; and
WHEREAS, the Avon Town Council directed that a Resolution be drafted for its December 10, 2013,
regular meeting, which would commit funds in the amount of $150,000 from the Affordable Housing
Fund Balance.
Resolution No. 13 -39
Castle Peak Senior Care Community
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NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO:
1. In addition to the $50,000 approved by the Town Council in the Town of Avon 2014 Affordable
Housing Fund Budget for contribution to Augustana Care, an additional $150,000 of Fund
Balance from the Affordable Housing Fund shall be committed to Augustana Care; and
2. At such time as the Affordable Housing Fund Budget is amended, the Town Council shall
appropriate the $150,000 for full contribution in 2014.
ADOPTED THIS 10th DAY OF DECEMBER, 2013.
ATTEST:
Town lerl Patty M n
Resolution No. 13 -39
Castle Peak Senior Care Community
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